Variables with angle brackets

I was trying to create a variable that contained angle brackets <> as the text needed in the variables are angle brackets in this instance. However, there is also text between the angel brackets. When I created the variable, the text between the angle brackets was in Courier New font and it had a red background. When I previewed the page, that information was cut out of the variable.

First, how do I add angle brackets within a variable (or can you)?

Second, what is happening when I add angle brackets and the font changes and the background color changes behind the text? What does it do? Can someone point me to an article or reference on what it does and how it's helpful?

Thanks.